Credit: only_kim/Shutterstock Deal Watch: Private Equity Hits New Heights
PE-backed M&A announcements hit $1 trillion for the first time. Meanwhile deals and SPACs keep popping.
November 22, 2021 at 05:33 PM
14 minute read
Fresh off a week where global M&A hit $5 trillion for the first time, another novel milestone has been reached.
Private equity-backed deals crossed the $1 trillion mark for the first time ever this week, besting the whole of 2020 by 81% and now 53% more than the all-time annual record of $663 billion set in 2007, according to financial data company Refinitiv.
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Law Firms Mentioned
- Cleary Gottlieb Steen & Hamilton
- McGuireWoods
- Hogan Lovells
- Dechert
- Latham & Watkins
- Reed Smith
- Loeb & Loeb
- Gibson, Dunn & Crutcher
- Wachtell, Lipton, Rosen & Katz
- Proskauer Rose
- Drinker Biddle & Reath LLP
- Jones Day
- Paul, Weiss, Rifkind, Warton & Garrison
- Cadwalader Wickersham & Taft
- Cooley
- Kirkland & Ellis
- Willkie Farr & Gallagher
- Baker Botts
- Wilson Sonsini Goodrich & Rosati
- Ellenoff Grossman And Schole Llp
- Davis Polk & Wardwell
- Sidley Austin
- Freshfields Bruckhaus Deringer
- Paul Hastings
- Ropes & Gray
- Skadden, Arps, Slate, Meagher & Flom LLP
- Sullivan & Cromwell LLP
- Nixon Peabody
- Vinson & Elkins
- Milbank LLP
- Goodwin Procter
- Amarchand & Mangaldas & Suresh A Shroff & Co
- Simpson Thacher & Bartlett
- Shearman & Sterling LLP
- Orrick, Herrington & Sutcliffe
- Pepper Hamilton
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
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Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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